SABB Takaful merger to boost Walaa Insurance’s capital to $227m

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Updated 27 February 2022
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SABB Takaful merger to boost Walaa Insurance’s capital to $227m

RIYADH: Saudi Arabia’s SABB Takaful will be fully merged into Walaa Insurance following an agreement between both companies on Feb. 24.

Upon completion of the deal, SABB Takaful’s assets, liabilities, and rights will be transferred to Walaa Insurance and the former will “cease to exist”, a bourse filing revealed.

Walaa Insurance will see its share capital jump to SR850 million ($227 million), of which 24 percent will be held by SABB Takaful’s shareholders.

The merger will be conducted through a share swap where Walaa will issue 0.6 shares against each share issued by SABB Takaful, the insurers said in a statement.


DP World announces new leadership appointments

Updated 13 February 2026
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DP World announces new leadership appointments

DUBAI: DP World announced the appointment of Essa Kazim as Chairman of its Board of Directors and the appointment of Yuvraj Narayan as Group Chief Executive Officer.

Essa Kazim currently serves as Governor of the Dubai International Financial Centre and Chairman of Borse Dubai. He brings extensive experience in financial and economic affairs, having previously held senior leadership positions in several national institutions.

Yuvraj Narayan has extensive professional experience in financial management, corporate finance, supply chains, and global trade. Since joining DP World in 2004, he has led a number of strategic and transformational initiatives that supported the company’s expansion across international markets and strengthened its role as an integrated global provider of end-to-end supply chain solutions.

Narayan has served as Group Chief Financial Officer since 2005, contributing to the company’s financial resilience and operational efficiency.

DP World affirmed that the new appointments support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.